1 REO Case Studies. 2 Bank of America contacted United Country to assist in an auction to reduce their bank owned real estate inventory in St. Louis,

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REO Case Studies

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Bank of America contacted United Country to assist in an auction to reduce their bank owned real estate inventory in St. Louis, MO.

United Country was engaged to market and liquidate 95 bank owned residential and investment properties.

Over 100 prospective buyers in attendance at the live auction

Marketing and promotion focused on the local and regional audiences (newspapers, direct mailers, mailing lists, real estate brokers, investors, and end users)

Results: 100% of the inventory was successfully marketed and sold during the event.

Case Study: Bank of America REO

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Arvest Bank (Wal-Mart) contacted United Country to dispose of foreclosed real estate assets in Arkansas and Missouri.

Project scope was to market and liquidate 290 residential and investment properties located in SW Missouri and NW Arkansas. Auction methodology included use of the “ballroom” format.

Over 650 prospective buyers in attendance at the live auction. Marketing and promotion focused on the local and regional

retail and investor buyers. We also engaged with multiple news stations with PR that covered the event start to finish driving additional buyer interest and participation.

End result: 160 properties sold the day of the event; remaining assets are continuing to be marketed and are expected to close.

Case Study: Bank Owned RE

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LaSalle Bank contacted United Country to assist in an auction to reduce their REO commercial and investment properties in Detroit & Lansing, MI

29 properties were offered for sale at two-day auction Marketing and promotion was targeted to commercial

real estate investors, commercial brokers, local and regional audiences, and area business owners

Results: Sold 20 properties day of auction and two more are set to go to contract (22 out of 29 properties = 76% closing ratio)

Case Study: LaSalle Bank (BofA) Michigan Multi-Property Auction

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Big Bear, CA Property falls into receivership and court orders the

property sold

National commercial real estate firm marketed the property for 6 months

using a conventional sales marketing campaign with multiple brokers

engaged on the project. Highest offer received was $8 million dollars.

United Country was contacted to execute an auction of the real estate

after an offer of $8 million failed to close.

Marketing was focused on a regional and national scope of hotel

management companies, owner/operators, area hotel & conference

centers owners, and investors.

Results: Active bidding from 8 bidders; property sold at auction for

$10,265,000.

Case Study: Northwoods Resort